Today, we are breaking down a giant in the medical device space, Intuitive Surgical. Intuitive creates robotic products to assist minimally invasive surgeries. Its Da Vinci system is a pioneer in this area as it increases the efficiency & accuracy of surgery and reduces the burden on the surgeons themselves. To break down Intuitive, I'm joined by Joseph Thomas, equity analyst at the global asset manager, Ninety One. Joe walks us through the history of surgical procedures, the emergence of robotics & surgery, and how Intuitive has emerged as the winner in this space. Please enjoy this breakdown on Intuitive Surgical.

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Show Notes (00:00:00) Welcome to Business Breakdowns (00:02:55) First Question - The Evolution of Surgery: From Ancient Practices to Robot-Assisted (00:08:14) Revolutionizing Surgery With the Da Vinci System (00:11:23) Early Challenges and Regulatory Hurdles for Robotic Surgery (00:14:59) The Future of Robotic Surgery (00:22:40) Exploring the Business Model of Intuitive Surgical (00:29:26) The Fifth Generation of the Da Vinci System (00:37:26) Intuitive Surgical's Financial Overview (00:41:16) Depreciation, Secondary Markets, and Economic Factors (00:45:52) R&D Investments and Digital Innovations (00:49:04) Navigating the Competitive Landscape (00:55:04) Global Expansion and Market Opportunities (00:57:27) Identifying Risks and Disruptions (01:01:37) Key Lessons from Intuitive Surgical